D.A. Davidson Serves as Financial Advisor to RJV Equipment in Sale to Hills HoldCo

November 11, 2021

D.A. Davidson & Co. is pleased to announce that it has served as financial advisor to RJV Equipment, LLC, a leading equipment dealer in central and eastern Tennessee as well as southwestern Virginia, in its sale to Hills HoldCo, a holding company with several full service heavy equipment dealerships in the Carolinas. Terms of the transaction were not disclosed.

Headquartered in Nashville, Tennessee, with dealerships in Nashville and Knoxville, RJV offers infrastructure and construction equipment via principally the Ditch Witch and Kubota lines, complemented by other manufacturers. In addition to offering equipment sales, RJV also rents heavy equipment and provides parts and service support. RJV was established in 2010 under the leadership of Ray Romano, who consistently expanded the business and generated outstanding growth in recent years.

“D.A. Davidson provided invaluable counsel to RJV in our effort to transition the business to new ownership,” said Romano, former dealer principal of RJV. “The D.A. Davidson team invested the time to truly understand our business, expertly positioned RJV to a targeted set of potential partners and designed a process that delivered a spectacular outcome for our shareholders and employees. In Hills HoldCo we have found the ideal partner to continue driving robust growth and superior equipment and service offerings for RJV’s customers.”

“RJV’s exceptional growth is a testament to its best-in-class service and customer value proposition,” said David Morse, managing director with D.A. Davidson. “Ray and his team have built an impressive, growth-oriented organization and sought a partner to support RJV’s continued expansion while preserving its customer-centric culture. Hills HoldCo is a perfect fit for RJV, and we look forward to the company’s continued growth and success.”

This transaction highlights the ongoing success of D.A. Davidson’s infrastructure services practice, serving leading firms in the sector. D.A. Davidson’s investment banking division is a leading full-service investment bank that offers comprehensive financial advisory and capital markets expertise. The group has extensive transaction experience serving middle market clients worldwide across four industry verticals: consumer, diversified industrials, financial institutions and technology.

Together with its European strategic partner, MCF Corporate Finance, D.A. Davidson originates and executes transatlantic M&A transactions under the common brand of D.A. Davidson MCF International.

About D.A. Davidson Companies

D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in 1935 and headquartered in Montana, with corporate offices in Denver, Los Angeles, Portland and Seattle, the company has approximately 1,400 employees and offices in 28 states.

Subsidiaries include: D.A. Davidson & Co., the largest full-service investment firm headquartered in the Northwest, providing wealth management, investment banking, equity and fixed income capital markets services, and advice; Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser providing fixed income portfolio and advisory services.

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